Domestic airfares increased by 95% in 12 months – NBS

Marcus Amudipe
Marcus Amudipe

that the average domestic airfare paid by passengers climbed by 94.78% during the previous 12 months.

According to The PUNCH, this development occurred when several difficulties affecting the regional aviation industry were being reported.

The NBS stated in a new study titled “Transport Fare Watch (January 2023)” that when compared month to month, airfares saw a rise of 0.16 percent.

Also, local airfares increased from an average of N74,702.70 in January 2023 to N74,586.49 in December 2022.

“On a year-on-year, the fare rose by 94.78 per cent from N38,352.19 in January 2022.”

The survey also revealed that the average fare paid by commuters for bus rides within the city per drop increased by 0.94 percent month on month in January 2023, rising from N644.66 in December 2022 to N650.70 in January 2023.

Although the average fare paid by commuters for bus rides within the city each drop increased by 36.59 percent year on year from N476.39 in January 2022.

In a different category, it was discovered that the average fare that commuters paid for intercity bus trips each drop increased to N3,998.42 in January 2023, representing an increase of 0.68 percent month over month compared to the figure of N3,971.22 in December 2022.

“On a year-on-year, the fare prices rose by 42.73% from N2801.34 in January 2022,” NBS said”.

Moreover, in January 2023, the standard transit fare for a commercial motorcycle was N466.25. On a month-over-month basis, this was 1.04 percent higher than the rate observed in December 2022 (N461.45). When compared to January 2021, the fare increased by 36.75 percent year over year (N340.94).

While in January 2023, the average fare paid for water transportation (waterway passenger transit) rose to N1,032.84. In comparison to the N888.24 recorded in January 2022 and the N 1,028.73 recorded in December 2022, this is a growth of 16.28% annually and 0.40% monthly.

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